A Pennsylvania appeals court on Monday revived the Le-Nature's Inc. liquidating trustee's $500 million malpractice suit against law firm K&L Gates LLP for failing to uncover during its internal investigation the massive fraud that brought the company down and landed its CEO in prison.
A former Troutman Sanders LLP partner accused the firm Monday of improperly releasing his signature to allow a merger agreement amendment depriving boutique investment bank MetCap Securities LLC of a $20 million fee for advising on a $2 billion acquisition of a nursing home operator.
The U.S. Senate agreed Tuesday to extend the authority of the Export-Import Bank of the U.S., lengthening its lending authority through September 2014 and increasing its financing cap from $100 billion to $140 billion, one week after the U.S. House of Representatives did the same.
Although strength coach Brian McNamee had a close relationship with his premier client, Roger Clemens, he saved evidence of the pitcher's performance-enhancing drug use to ensure his credibility if their illegal actions ever came to light, the trainer told the jury in Clemens' perjury trial Tuesday.
A Texas state judge on Monday indicated that he would reverse the approval of a $3 billion, 1,300-megawatt coal-fired power plant in Corpus Christi, which environmental groups have claimed would create more air pollution than the state had evaluated.
Apple Inc. and a group of book publishers lost a bid Tuesday to dismiss consumer class actions alleging they conspired to inflate the price of e-books, after a New York federal judge deemed the allegations plausible enough to proceed.
Twitter's new “Innovator’s Patent Agreement” — a policy covering assignment of inventions by Twitter employees to Twitter — appears to be an attempt to square the open-source ethos of Silicon Valley developers with the reality that software patents are becoming increasingly valuable assets to their employers, says Andrew Liddell of Fulbright & Jaworski LLP.
As cybersecurity issues continue to garner headlines, more than half a dozen bills that attempt to address network security are pending in Congress, and lawmakers increasingly are singling out China as the most threatening state actor. Operators of “critical infrastructure” should be aware of their potential new legal obligations and privileges under the various bills, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
Many of the most profitable technologies being developed and commercialized by tech companies — particularly in the areas of life sciences and clean technology — were initially developed by nonprofit institutions. There are five often overlooked issues that should be considered by a company when negotiating an in-license agreement with nonprofits, say attorneys with Mintz Levin Cohn Ferris Glovsky and Popeo PC.
The Oregon Court of Appeals has held that the exclusive remedy provision of Oregon’s workers’ compensation law does not shield an employer limited liability company's managing member from a negligence claim by the LLC’s injured worker. But the court began its analysis by incorrectly framing the issue and ignoring the distinction between members of a member-managed LLC and members of a manager-managed LLC, says Doug Batey of Stoel Rives LLP.
Europe's July 1 oil embargo as well as U.S. and European financial sanctions prompted by Iran's nuclear program have seen Tehran's oil sales drop to most Western destinations, and drawn promises from some Asian buyers that they will cut purchases, says Nigel Kushner of Whale Rock Legal Ltd.
If it is not an abuse of discretion for a trial judge to apply whichever sentencing guideline he prefers — as in the Eighth Circuit's decision in the VandeBrake case — then it becomes much more palatable for a defendant to roll the dice at trial rather than taking his chances that a judge will impose the sentence in a plea deal, say Brady Dugan and Diana Gillis of Akin Gump Strauss Hauer & Feld LLP.
The New York City Council has approved a city-wide text amendment to the city's Zoning Resolution. The Zone Green amendment enables both existing and future buildings to take advantage of a multitude of energy saving and/or power generating improvements and is likely to catalyze more environmentally sound designs and energy efficient retrofits throughout New York City, say attorneys with Stroock & Stroock & Lavan LLP.
The Institute of Medicine has issued a report entitled “Ensuring Safe Foods and Medical Products Through Stronger Regulatory Systems Abroad." Some of IOM’s goals, including the application of current food-tracing requirements to medicines, biologics and even medical devices, suggest that supply-chain tracing may be of increased importance over the next three to five years, says Amy Goerss of Hodgson Russ LLP.
A target company’s historical compliance with unclaimed property laws is an important, but often overlooked, area for due diligence in M&A transactions. There are various ways for the buyer to control or limit its potential exposure, say Marc Musyl, Sarah Seedig and Jonathan Lessner of Greenberg Traurig LLP.
The 2010 Americans with Disabilities Act Standards for Accessible Design are now in effect. These standards are viewed by many as very burdensome for real estate owners and developers, says Leigh Poltrock of Pepper Hamilton LLP.